STERIS plc $STE Stock Purchased by Deroy & Devereaux Private Investment Counsel Inc.

Deroy & Devereaux Private Investment Counsel Inc. lifted its position in STERIS plc (NYSE:STE) by 51.0% in the third quarter, HoldingsChannel reports. The firm owned 25,355 shares of the medical equipment provider’s stock after buying an additional 8,560 shares during the period. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in STERIS were worth $5,325,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of STE. Corient Private Wealth LP lifted its holdings in STERIS by 109.7% in the second quarter. Corient Private Wealth LP now owns 20,978 shares of the medical equipment provider’s stock valued at $4,417,000 after acquiring an additional 10,976 shares during the last quarter. Kornitzer Capital Management Inc. KS purchased a new position in STERIS in the first quarter worth approximately $5,506,000. Strs Ohio grew its position in STERIS by 9.5% in the first quarter. Strs Ohio now owns 71,748 shares of the medical equipment provider’s stock worth $15,866,000 after acquiring an additional 6,196 shares during the period. Bessemer Group Inc. increased its stake in STERIS by 8.8% during the first quarter. Bessemer Group Inc. now owns 1,048,636 shares of the medical equipment provider’s stock worth $231,883,000 after acquiring an additional 85,188 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its stake in STERIS by 652.7% during the first quarter. Y Intercept Hong Kong Ltd now owns 7,286 shares of the medical equipment provider’s stock worth $1,611,000 after acquiring an additional 6,318 shares during the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.

STERIS Price Performance

STERIS stock opened at $229.78 on Tuesday. STERIS plc has a 52-week low of $195.14 and a 52-week high of $269.44. The firm has a market cap of $22.40 billion, a PE ratio of 22.28 and a beta of 0.92. The company has a quick ratio of 1.35, a current ratio of 1.91 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average is $220.19 and its two-hundred day moving average is $225.81.

STERIS (NYSE:STE) last issued its quarterly earnings results on Wednesday, August 5th. The medical equipment provider reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.10. STERIS had a return on equity of 14.34% and a net margin of 13.34%. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the business earned $2.34 EPS. STERIS’s revenue was up 7.3% on a year-over-year basis. STERIS has set its FY 2027 guidance at 11.000-11.300 EPS. On average, research analysts expect that STERIS plc will post 11.12 EPS for the current fiscal year.

STERIS Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.2%. This is a positive change from STERIS’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Friday, September 4th. STERIS’s dividend payout ratio is currently 33.74%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on STE. UBS Group reduced their target price on STERIS from $275.00 to $270.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Wall Street Zen cut STERIS from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 11th. Piper Sandler reiterated an “overweight” rating and set a $275.00 price target (up from $270.00) on shares of STERIS in a report on Friday, August 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of STERIS in a research report on Monday, August 24th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $271.33.

Insider Activity

In related news, Director Mohsen Sohi sold 4,058 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $235.78, for a total value of $956,795.24. Following the transaction, the director directly owned 24,305 shares of the company’s stock, valued at $5,730,632.90. This trade represents a 14.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.12% of the company’s stock.

STERIS Company Profile

STERIS plc (NYSE: STE) provides products and services designed to support infection prevention, procedural care and the safe manufacture of healthcare and life sciences products. Its offerings include surgical equipment and operating-room solutions, sterilization and decontamination systems, endoscopy products, cleaning and disinfection technologies, and related consumable products.

The company also provides outsourced sterilization and laboratory services through its Applied Sterilization Technologies business.